Wills

The main reason to make a will is so you can decide who should benefit after your death. If you fail to make a will you die intestate. Under this country's intestacy rules the people to whom you would like to leave your estate may receive little or nothing at all and others may benefit whom you did not wish to do so.

Another reason is to avoid Inheritance Tax. Inheritance Tax may be payable if your total estate has a value in excess of £300,000 (as of 6 April 2007). With the majority of people now owning their own properties it is worth sitting down to work out what your estate would be worth if you were to die tomorrow. You need to take into account your house, furniture, car, savings and all your personal belongings, plus any death benefits under pension or life policies. There are some simple things that can be done during your lifetime and under your Will, to reduce or negate any Inheritance Tax liability.

For professional advice on Wills please contact us on 01425 278866